When your business is failing, it can be demoralizing, both professionally and personally. And while there are many ways for you to cope with failure without it overcoming you, when you are downsizing your business, you’ve got to find a way to keep everything going. Downsizing your business is, at least in your mind, a temporary thing, but many people may have already written your epitaph. What can you do to ensure that when you are downsizing, that it is only temporary?
Focusing On The Real Reasons To Downsize
Some of us do it for the wrong reasons. It’s better to determine what the real reasons are, so when you are planning your return, it becomes much easier to manage. You are focusing on your weaknesses and so, this gives you the incentive to make the changes so that these don’t become weaknesses, but turn into strengths.
Don’t get rid of everything!
The temptation can be to rip everything out and start again, but, even though you’re downsizing from a physical location, and setting up home in your office, there are plenty of storage opportunities for you to keep everything. When you are planning your comeback, it’s going to be easier for you to get everything back, rather than spending more money re-buying everything.
Planning Your Phased Return
Instead of implementing a massive impact, it’s better for you to bide your time, and make it a phased return. Doing this gives you the chance to be more methodical in how you stage your comeback. A lot of people decide that they want to make a big impact right away, but this requires a lot of planning- it’s far better for you to focus on one thing at a time so that you are able to come back in a healthier way.
Keeping Your Eye On The Future
It’s important for you to tread carefully, and find ways to ensure that you are keeping productive. Even though you are downsizing, this is purely a means to an end. Maybe there have just been a few issues with the product, maybe it’s the customers, or maybe it’s just a combination of many little things, including bad luck. Instead, focus on the future, but also begin to look at how you can avoid the pitfalls next time around. As we begin to build back up, it can prove to be more difficult second time around. This could be due to the fact that the business has now acquired a certain reputation. Whatever the issues, it’s important that you know that downsizing and downgrading are only temporary. Moving back home, from an office, is very much the equivalent of the “tail between your legs”. But you don’t need to feel demoralized. It’s something that many businesses have to do in order to save their own skin; don’t think about it as being a negative trait, consider it to be a learning lesson.
It’s a means to an end, but it’s going to be a positive one, and it’s important to remember that when you are planning your comeback.
